InterDigital (NASDAQ:IDCC) Sets New 52-Week High – Time to Buy?

InterDigital, Inc. (NASDAQ:IDCC) hit a new 52-week high during trading on Wednesday . The stock traded as high as $157.14 and last traded at $156.90, with a volume of 144404 shares. The stock had previously closed at $153.75.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on IDCC shares. Roth Mkm increased their price target on shares of InterDigital from $146.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. StockNews.com upgraded shares of InterDigital from a “hold” rating to a “buy” rating in a report on Tuesday.

InterDigital Price Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 1.51 and a quick ratio of 1.51. The business has a 50 day moving average of $139.82 and a 200 day moving average of $122.26. The company has a market cap of $3.89 billion, a PE ratio of 22.67, a price-to-earnings-growth ratio of 0.94 and a beta of 1.39.

InterDigital (NASDAQ:IDCC) last announced its earnings results on Thursday, August 1st. The Wireless communications provider reported $4.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $3.77. InterDigital had a net margin of 37.99% and a return on equity of 44.57%. The firm had revenue of $223.49 million for the quarter, compared to analyst estimates of $95.63 million. As a group, research analysts predict that InterDigital, Inc. will post 9.04 EPS for the current year.

InterDigital Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be given a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $1.80 annualized dividend and a dividend yield of 1.17%. This is a positive change from InterDigital’s previous quarterly dividend of $0.40. InterDigital’s dividend payout ratio is currently 26.47%.

Insider Activity

In other news, CTO Rajesh Pankaj sold 700 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $142.78, for a total value of $99,946.00. Following the sale, the chief technology officer now directly owns 54,984 shares of the company’s stock, valued at $7,850,615.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director John A. Kritzmacher sold 2,500 shares of InterDigital stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $138.72, for a total value of $346,800.00. Following the completion of the transaction, the director now owns 20,279 shares of the company’s stock, valued at $2,813,102.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Rajesh Pankaj sold 700 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $142.78, for a total transaction of $99,946.00. Following the sale, the chief technology officer now directly owns 54,984 shares in the company, valued at $7,850,615.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,205 shares of company stock worth $716,218 in the last quarter. 2.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in shares of InterDigital in the fourth quarter worth $328,000. Wellington Management Group LLP lifted its stake in InterDigital by 16.1% during the 4th quarter. Wellington Management Group LLP now owns 78,669 shares of the Wireless communications provider’s stock valued at $8,539,000 after acquiring an additional 10,926 shares during the period. PNC Financial Services Group Inc. lifted its stake in InterDigital by 40.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,703 shares of the Wireless communications provider’s stock valued at $402,000 after acquiring an additional 1,069 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of InterDigital by 1.8% during the 1st quarter. Los Angeles Capital Management LLC now owns 34,128 shares of the Wireless communications provider’s stock valued at $3,633,000 after acquiring an additional 612 shares during the last quarter. Finally, Contravisory Investment Management Inc. grew its stake in shares of InterDigital by 1,757.5% in the first quarter. Contravisory Investment Management Inc. now owns 2,229 shares of the Wireless communications provider’s stock worth $237,000 after acquiring an additional 2,109 shares during the period. Institutional investors own 99.83% of the company’s stock.

InterDigital Company Profile

InterDigital, Inc operates as a global research and development company with focus primarily on wireless, visual, artificial intelligence (AI), and related technologies. The company engages in the design and development of technologies that enable connected in a range of communications and entertainment products and services, which are licensed to companies providing such products and services, including makers of wireless communications, consumer electronics, IoT devices, and cars and other motor vehicles, as well as providers of cloud-based services, such as video streaming.